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Published on 2018-04-15 22:05:13 Share it web version
                        Shanghai, Shenzhen and Hong Kong through the foreign investment into the A and then "expanding the road to repair the road" How to grab the "smart money" before entering the market?
Source: China Securities Journal Editor: Eastern Fortune Network

  点击查看>>>Shanghai and Shenzhen-Hong Kong Stock Connect funds flow

The China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission recently agreed to quadruple the daily quota of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The daily quota of Shanghai Stock Connect and Shenzhen Stock Connect will be expanded from RMB 13 billion to RMB 52 billion, and the daily quota of Hong Kong Stock Connect will be expanded from RMB 10.5 billion to RMB 42 billion by May 1, 2018. Effective from the date of use.

  Four times expansion is more like MSCI "Pole Vault"

Someone may ask, what is the significance of the quota expansion? After all, from the historical data, in addition to just opening the time, no matter whether it is the northbound funds or the southward funds, there is no sign of “expanding” the quota.

Shen Wanhongyuan analysts believe that the logic to increase the single-day quota for interconnection for trading needs is not valid. At present, the daily quotas for the shares of the Hong Kong Stock Connect and the Hong Kong stocks are very sufficient. The situation of insufficient quotas is very rare. Except for the one-day quota of the opening of the Shanghai-Hong Kong Stock Connect, the other quotas are basically sufficient. Based on the analysis of the proportion of the quotas used by the shares of the Hong Kong Stock Connect and the Hong Kong Stock Connect, it is found that the 90-digits of the Shanghai Stock Connect and the Shenzhen Stock Connect are only 15% and 10%, with an average of 4%-5%. The Hong Kong Stock Connect's quota use center is higher than the land stock market, and the capital is relatively stronger in the south, but the 90-digit quota of the quota is no more than 25%, indicating that whether it is Hong Kong Stock Connect or Lu Share, 90% of the transactions. The daily quota is less than 25%, so the logic to increase the amount of demand for trading is not valid.

The analyst further pointed out that the increase in interconnection and single-day quota is more due to the consideration of MSCI's inclusion of A-shares. In the future, the unexpected content may be concentrated in two steps and will be changed into A-shares, increase market capitalization factor and increase mid-market A. Stock index component.

In terms of time, May 14th and August 13th are the time points for the quarterly adjustment of the MSCI index. The MSCI high probability in these two time points will provide feedback on whether to increase the market capitalization factor and increase the mid-cap A share component.

Last year, tracking the scale of MSCI's active foreign investment far exceeded the scale of passive foreign investment. In fact, active foreign investment has accelerated the allocation of MSCI targets through the land stocks since October last year. In the second half of 2017, the A-share white horses performed well. At present, if MSCI raises the A-share market value factor or increases the A-share market, the active funds will bring considerable marginal allocation funds to the market.

Analysts suggest that given the current Sino-US game environment, MSCI may face certain constraints, but at the latest will be feedback in August, investors can continue to pay attention.

  Expected arrival time

According to estimates, the MSCI Global Index fund is $11 trillion, and the MSCI Emerging Markets Index is $1.6 trillion. According to the MSCI inclusion criteria in June 2017, MSCI included A-share incremental funds of RMB 740 to 105.5 billion. According to the two-step timetable, the incremental funds in May and August will reach RMB 370 to RMB 53 billion respectively. about.

Shen Wan Hongyuan Securities analysts suggested that investors should pay close attention to the three major situations in which MSCI will exceed the expectations of A shares in the future.

  The first is to incorporate the rhythm beyond expectations and focus on the financial and food and beverage industries.If MSCI announces the one-time inclusion of A-shares, the incremental funds included in May may reach RMB 740-105 million in one-time, and the rhythm may exceed market expectations; according to the original plan and the adjusted stock component in February, incremental capital inflows The top industries are banks, non-silver and food and beverage.

  Second, the scale of incremental funds exceeded expectations.If MSCI announces the expansion of the A-share 5% market capitalization factor, the overall incremental capital of A-shares will increase.

  Finally, it is to exceed the expectations of the target, focusing on pharmaceutical biology, real estate, media, computer and non-ferrous industries.If MSCI announces that the index component is included in the mid-cap A-shares, the new mid-cap A-shares are expected to be the first to greet the active incremental fund layout, which constitutes the expected difference. If you consider the newly added mid-market target, according to the MSCI International A-Share Index in June 2017, the market value of the mid-cap stocks of traditional Chinese medicine, real estate, media, computer and non-ferrous metals is relatively high.

In terms of subject investment, Guojin Securities analyst pointed out thatInvestors can focus on companies that are “scarce, high-quality, and have super-brand value”.The analyst believes that foreign-invested institutions allocate A-shares, focusing on companies that are “scarce, high-quality, and have super-brand value”. In terms of sectors, the constituents that are potentially included in MSCI are large-cap blue-chip stocks, and the “consumption, finance” and other sectors account for a large proportion. From the perspective of configuration style, according to the investment preference of foreign-invested institutions (QFII/RQFII) after entering the A-share market, the potential incorporated companies should focus on “scarce, high-quality, super-brand value” companies.The “Super Brand Index” deserves attention.

On the whole, in the context of China's financial opening up and speeding up, the impact of the inclusion of MSCI on the A-share market will be more milestone. From the perspectives of incremental funds, the proportion of institutional investors, and the index adjustment rules for the suspension of the resumption of trading, China's A-share market is accelerating its marketization and internationalization. It is true that when offshore funds become an important force in the market, the volatility risks of global market linkages are also increasing. It can be said that the future MSCI China Index will become one of the important coordinates for judging the hot and cold of the global market.

  相关报道>>>

  The CSRC and the Exchange acted swiftly. The daily quota of Shanghai-Shenzhen-Hong Kong Stock Connect has quadrupled since May 1.

  Shanghai, Shenzhen and Hong Kong's single-day quota will be expanded by 4 times. Chen Delin: Ensure that the A-shares enter the country smoothly.

  Paved the road and wait for the car! On May 1st, the Shanghai-Shenzhen-Hong Kong Stock Exchange will expand its quota by four times.

  投资动向>>>

  The expansion of the Shanghai-Shenzhen-Hong Kong Stock Connect has become a prelude to the "into the motorcycle" A-share is expected to open a new round of bull market

  Shanghai-Hong Kong Stock Connect Increases the Funds to Stimulate the Layout of Funds

Fund codeFund abbreviationNearly one year of earningsHandling feeoperating
519772Bank of Communications new vitality flexible configuration mix57.28%1.50% 0.15%buy Account opening
001112Oriental Red China Advantage Mix41.76%1.50% 1.50%buy Account opening
399011China Shipping Healthcare Theme Stock40.63%1.50% 0.15%buy Account opening
000531Soochow Alpha Flexible Configuration Mix31.44%1.50% 0.15%buy Account opening
519196Wanjia emerging blue chip flexible configuration mix27.97%1.20% 0.12%buy Account opening
Source: Eastern Fortune Choice data, Galaxy Securities, deadline: 2018-04-13


Published on 2018-04-15 22:10:52
                            300022 Jifeng agricultural machinery total plate more than 3 billion, the current price is only more than 4 yuan, a quarterly report pre-profit, which makes the new listing of stocks
Published on 2018-04-16 06:05:58
                            Don't tell me, we all stayed in value investing.
Published on 2018-04-16 06:12:40
                            Everyone still remembers "Sanjiang Shopping". In fact, if Tencent is not stupid, as long as it is added to the sinking machine, it can earn a lot of times. How big is the name of the machine? The first machine tool manufacturing in New China is not worse than the Moutai brand. ! The key theme of the machine is that the reform of state-owned enterprises can be mixed ownership. In conjunction with Tencent Cloud, a group of people who are blind-minded, always take the past share price performance and compare now. Now Tencent and Ali are occupying the industrial Internet, and they think that they are sinking. Get the world
Published on 2018-04-16 06:16:48
                            Nangang shares, this week's good show with Taiwan:
Incentive exercise period, the quarterly report is more expectation!
Published on 2018-04-16 06:22:56
                            The rhythm of the Hainan plate to break out, focusing on 000955
Published on 2018-04-16 06:28:54
                            Is the unicorn coming or the money?
Published on 2018-04-16 06:30:44
Rose whisper :Everyone still remembers "Sanjiang Shopping". In fact, if Tencent is not stupid, as long as it is added to the sinking machine, it can earn a lot of times. How big is the name of the machine? The first machine tool manufacturing in New China is not worse than the Moutai brand. ! The key theme of the machine is that the reform of state-owned enterprises can be mixed ownership. In conjunction with Tencent Cloud, a group of people who are blind-minded, always take the past share price performance and compare now. Now Tencent and Ali are occupying the industrial Internet, and they think that they are sinking. Get the world
                            The credit of Liaoning people is too bad, no one dares to invest! Dalian Machine Tool, Northeast Special Steel, Huishan Dairy, etc., too much
Published on 2018-04-16 06:31:05
                            Cut clean and give foreign investment, and will not let go.
Published on 2018-04-16 06:31:52
                            Looking at the brokerages in this way, how do you feel that financial openness is bad for brokers?
Published on 2018-04-16 06:35:39
                            In the absence of any change in market policy, look at it, just flicker!
Published on 2018-04-16 06:48:21
                            Middle Eastern countries' funds into the A-share sinister sweep
Published on 2018-04-16 06:53:28
                            How did the media start singing more today?
Published on 2018-04-16 06:53:31
                            Hang Seng Electronics and Gold Securities
Published on 2018-04-16 06:53:42
                            Buy 000830 in advance
Published on 2018-04-16 06:54:30
                            International funds need to withdraw from the US to enter Chinese stock market investment
Published on 2018-04-16 06:55:22
                            Good Poly Real Estate
Published on 2018-04-16 07:09:22
                            603878 Great.
Published on 2018-04-16 07:11:44
                            Accurate strikes, generosity stocks: accurate information, today's daily limit!
Published on 2018-04-16 07:12:57
                            Entering the market to die
Published on 2018-04-16 07:13:10
Stocks 18 :Entering the market to die
Published on 2018-04-16 07:15:51
                            One billion, different from one billion one tenth
Published on 2018-04-16 07:16:42

<Excellent growth in the world, value investment is the last word> Huatai Securities' international financial technology asset management "big investment bank" and China's Internet brokerage leader's unique profit model is expected to become a good starting point for the industry's performance!
Huatai Securities' unique profit model is the future of the business sector! Earnings per share of 1.31 yuan, price-earnings ratio of 11.81 times, not 33 times better than Guizhou Maotai?
Published on 2018-04-16 07:19:41
                            China's stock market: precision strikes ASUS information 300380 from 474 yuan in 2015 to 21 yuan now
Published on 2018-04-16 07:23:27
American team :China's stock market: precision strikes ASUS information 300380 from 474 yuan in 2015 to 21 yuan now
                            Perfect
Published on 2018-04-16 07:25:18
American team :Perfect
                            200 pe, 7 times pb, this garbage company is actually worth 10 yuan.
Published on 2018-04-16 07:25:44
                            Only huh
Published on 2018-04-16 07:26:24
Turpan Spring :How did the media start singing more today?
                            Call you not to run in the morning, they are good to run
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Source: China Securities Journal Editor: Eastern Fortune Network

  Click to view>>>Shanghai and Shenzhen-Hong Kong Stock Connect funds flow

The China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission recently agreed to quadruple the daily quota of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The daily quota of Shanghai Stock Connect and Shenzhen Stock Connect will be expanded from RMB 13 billion to RMB 52 billion, and the daily quota of Hong Kong Stock Connect will be expanded from RMB 10.5 billion to RMB 42 billion by May 1, 2018. Effective from the date of use.

  Four times expansion is more like MSCI "Pole Vault"

Someone may ask, what is the significance of the quota expansion? After all, from the historical data, in addition to just opening the time, no matter whether it is the northbound funds or the southward funds, there is no sign of “expanding” the quota.

Shen Wanhongyuan analysts believe that the logic to increase the single-day quota for interconnection for trading needs is not valid. At present, the daily quotas for the shares of the Hong Kong Stock Connect and the Hong Kong stocks are very sufficient. The situation of insufficient quotas is very rare. Except for the one-day quota of the opening of the Shanghai-Hong Kong Stock Connect, the other quotas are basically sufficient. Based on the analysis of the proportion of the quotas used by the shares of the Hong Kong Stock Connect and the Hong Kong Stock Connect, it is found that the 90-digits of the Shanghai Stock Connect and the Shenzhen Stock Connect are only 15% and 10%, with an average of 4%-5%. The Hong Kong Stock Connect's quota use center is higher than the land stock market, and the capital is relatively stronger in the south, but the 90-digit quota of the quota is no more than 25%, indicating that whether it is Hong Kong Stock Connect or Lu Share, 90% of the transactions. The daily quota is less than 25%, so the logic to increase the amount of demand for trading is not valid.

The analyst further pointed out that the increase in interconnection and single-day quota is more due to the consideration of MSCI's inclusion of A-shares. In the future, the unexpected content may be concentrated in two steps and will be changed into A-shares, increase market capitalization factor and increase mid-market A. Stock index component.

In terms of time, May 14th and August 13th are the time points for the quarterly adjustment of the MSCI index. The MSCI high probability in these two time points will provide feedback on whether to increase the market capitalization factor and increase the mid-cap A share component.

Last year, tracking the scale of MSCI's active foreign investment far exceeded the scale of passive foreign investment. In fact, active foreign investment has accelerated the allocation of MSCI targets through the land stocks since October last year. In the second half of 2017, the A-share white horses performed well. At present, if MSCI raises the A-share market value factor or increases the A-share market, the active funds will bring considerable marginal allocation funds to the market.

Analysts suggest that given the current Sino-US game environment, MSCI may face certain constraints, but at the latest will be feedback in August, investors can continue to pay attention.

  Expected arrival time

According to estimates, the MSCI Global Index fund is $11 trillion, and the MSCI Emerging Markets Index is $1.6 trillion. According to the MSCI inclusion criteria in June 2017, MSCI included A-share incremental funds of RMB 740 to 105.5 billion. According to the two-step timetable, the incremental funds in May and August will reach RMB 370 to RMB 53 billion respectively. about.

Shen Wan Hongyuan Securities analysts suggested that investors should pay close attention to the three major situations in which MSCI will exceed the expectations of A shares in the future.

  The first is to incorporate the rhythm beyond expectations and focus on the financial and food and beverage industries.If MSCI announces the one-time inclusion of A-shares, the incremental funds included in May may reach RMB 740-105 million in one-time, and the rhythm may exceed market expectations; according to the original plan and the adjusted stock component in February, incremental capital inflows The top industries are banks, non-silver and food and beverage.

  Second, the scale of incremental funds exceeded expectations.If MSCI announces the expansion of the A-share 5% market capitalization factor, the overall incremental capital of A-shares will increase.

  Finally, it is to exceed the expectations of the target, focusing on pharmaceutical biology, real estate, media, computer and non-ferrous industries.If MSCI announces that the index component is included in the mid-cap A-shares, the new mid-cap A-shares are expected to be the first to greet the active incremental fund layout, which constitutes the expected difference. If you consider the newly added mid-market target, according to the MSCI International A-Share Index in June 2017, the market value of the mid-cap stocks of traditional Chinese medicine, real estate, media, computer and non-ferrous metals is relatively high.

In terms of subject investment, Guojin Securities analyst pointed out thatInvestors can focus on companies that are “scarce, high-quality, and have super-brand value”.The analyst believes that foreign-invested institutions allocate A-shares, focusing on companies that are “scarce, high-quality, and have super-brand value”. In terms of sectors, the constituents that are potentially included in MSCI are large-cap blue-chip stocks, and the “consumption, finance” and other sectors account for a large proportion. From the perspective of configuration style, according to the investment preference of foreign-invested institutions (QFII/RQFII) after entering the A-share market, the potential incorporated companies should focus on “scarce, high-quality, super-brand value” companies.The “Super Brand Index” deserves attention.

On the whole, in the context of China's financial opening up and speeding up, the impact of the inclusion of MSCI on the A-share market will be more milestone. From the perspectives of incremental funds, the proportion of institutional investors, and the index adjustment rules for the suspension of the resumption of trading, China's A-share market is accelerating its marketization and internationalization. It is true that when offshore funds become an important force in the market, the volatility risks of global market linkages are also increasing. It can be said that the future MSCI China Index will become one of the important coordinates for judging the hot and cold of the global market.

  Related reports>>>

  The CSRC and the Exchange acted swiftly. The daily quota of Shanghai-Shenzhen-Hong Kong Stock Connect has quadrupled since May 1.

  Shanghai, Shenzhen and Hong Kong's single-day quota will be expanded by 4 times. Chen Delin: Ensure that the A-shares enter the country smoothly.

  Paved the road and wait for the car! On May 1st, the Shanghai-Shenzhen-Hong Kong Stock Exchange will expand its quota by four times.

  Investment trends >>>

  The expansion of the Shanghai-Shenzhen-Hong Kong Stock Connect has become a prelude to the "into the motorcycle" A-share is expected to open a new round of bull market

  Shanghai-Hong Kong Stock Connect Increases the Funds to Stimulate the Layout of Funds

Excellent fund

Mobile phones can also open an account to buy funds, click here to download now
Fund codeFund abbreviationNearly one year of earningsHandling feeoperating
519772Bank of Communications new vitality flexible configuration mix57.28%1.50% 0.15%buy Account opening
001112Oriental Red China Advantage Mix41.76%1.50% 1.50%buy Account opening
399011China Shipping Healthcare Theme Stock40.63%1.50% 0.15%buy Account opening
000531Soochow Alpha Flexible Configuration Mix31.44%1.50% 0.15%buy Account opening
519196Wanjia emerging blue chip flexible configuration mix27.97%1.20% 0.12%buy Account opening
Source: Eastern Fortune Choice data, Galaxy Securities, deadline: 2018-04-13